The Zimbabwe Stock Exchange (ZSE) is collaborating with GetBucks Microfinance Bank Limited (Getbucks) to operationalise the Zimbabwe Emerging Enterprise Market (ZEEM).
A memorandum of understanding between the two has already been signed for the implementation of the project which should see emerging small to medium enterprises (SMEs) access the stock market.
This forms part of initiatives to expand the capital markets with more products and services as well as attract more investors to the local bourse. ZSE chief executive officer Justin Bgoni indicated that ZEEM products will be offered through an over-the-counter platform targeted at initially offering working capital solutions for formalised businesses, including Small to Medium Enterprises (SMEs).
“Over time, the ZSE will facilitate and assist small to medium size enterprises to list on the secondary bourse through training, workshops and other initiatives to educate SMEs on benefits of listing and meeting the requirements,” said Mr Bgoni in a statement. GetBucks will play a critical role in terms of support,” he said.
According to Mr Bgoni, the local bourse and the microfinance bank are also working towards establishing a receivables exchange, a precursor to the ZEEM project.
Said Mr Bgoni: “This collaboration reinforces ZSE’s drive to foster the growth of the capital markets in Zimbabwe and resonates with our vision of facilitating economic development in Zimbabwe and Africa.